Phoenix Realty Group and Artimus Construction have acquired a 52-year ground lease for the development site at 147-07 94th Avenue in downtown Jamaica. The property was valued at roughly $34 million, and the development teams plan to build a mixed-use project with residential units and commercial-retail space. The residential units will be a mix of market-rate and affordable apartments.
Construction is now six floors above street level on the 17-story, 50-unit mixed-use building under development at 232 Seventh Avenue, located between West 23rd and 24th streets in Chelsea. The latest photo is courtesy of photographer Tectonic. The most recent building permits indicate the project will measure 53,135 square feet with a roof rising 170 feet above street level. There will be 2,424 square feet of retail space across the ground and cellar levels, followed by residential units on the second through 16th floors. The units will be rental apartments and should average 798 square feet apiece. An anonymous Chelsea-based LLC is the developer and C3D Architecture is behind the design. Completion is expected in 2017.
Late last month, YIMBY reported that piling work was underway at the site of HFZ Capital Group’s two-towered, 35- and 25-story, mixed-use project at 76 11th Avenue in southern Chelsea. The developer had been considering whether to construct a hotel or office space within the project’s commercial component; now it has been revealed that a five-star, 137-key Six Senses Hotels Resorts Spas is planned. The hotel portion will be located in the 25-story eastern tower and will feature a spa. It will be the Bangkok-based hotel operator’s first location in the United States.
A rendering has been revealed of the planned 15-story, 113-unit mixed-use building at 87 Newkirk Street, in the Journal Square section of Jersey City. The project will measure 129,500 square feet in total, featuring 5,000 square feet of ground-floor retail space, followed by 21,500 square feet of co-working space on the second and third floors. The residential units above will be rental apartments configured in studios and co-living suites with multiple bedrooms.